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In the second half of 2012, insolvency firm PPB Advisory sold more than 70 distressed properties across NSW and Queensland, including the sale of 14 Gold Coast residential apartments in a single auction.

“Residential that’s tenanted and in the sub $300,000 range is selling well. The stuff that’s really tanked is at the high end," PPB Advisory partner Brett Lord said.

“I’m not going to say the market is on the up across the board but people are looking for opportunities. We’re getting things away in a shorter timeframe than we would have 18 months ago."

In its March update on the distressed real-estate market, PPB said there were signs of stronger demand for lower-priced residential properties that were well leased, which permitted access to finance. Continuing interest from opportunistic buyers is expected in 2013.

Last year, development sites overtook industrial in terms of the number of distressed assets on the market, but retail is expected to feature heavily this year.

“We will definitely see a lot more strip retail come up, particularly in regional areas where they can’t find new tenants," Mr Meynell said.

Mr Lord also said that regionally located retail assets will come to market this year.

As distressed property sales continue to close and large numbers of properties come to market, real estate agents expect the historic low cash rate of 3 per cent will further support buyer appetite in 2013.